Buy-to-let market is "blooming"

The buy-to-let market has bloomed in recent times due to a wide range of factors, and it seems like there's no better time to take advantage of the popularity of life in a rented space, according to a new report. Moneyfacts.co.uk revealed (February 1st) that the current number of mortgages available to potential and full-time landlords is the largest at any time since the start of the credit crunch.

According to the independent website, the number of buy-to-let mortgages has registered a massive increase in recent months after a successful 2011 for the market. It has meant there are now no fewer than 486 buy-to-let mortgage offerings on the market, which continues to consistently rise in recent years.

This marks a stark contrast to two years ago, when there was exactly half that number available - just 243 buy-to-let mortgages were offered to landlords. It was 100 less than the current total just a year ago, when 386 were available.

Louise Holmes, spokesperson for Moneyfacts.co.uk, said: "During the peak of the credit crisis the number of buy-to-let deals shrank considerably as lenders saw it as a high risk area of the market. Many aspiring homeowners have had their property dreams dashed due to strict lending criteria and large deposits, meaning the only option left is to rent."